EQT Corporation reported year-end 2014 total proved reserves of 10.7 Tcfe. This represents a 2.4 Tcfe net increase over 2013, with a reserve replacement ratio of 590%.
The Company's 2014 Marcellus proved reserves increased by 2.3 Tcfe, primarily from wells drilled in 2014, acreage acquisitions, and higher estimated ultimate recoveries (EUR) per well. For 2014, the EUR of proved Marcellus wells averaged 7.9 Bcfe, with an average lateral length of 4,435 feet; compared to the 2013 EUR of 7.2 Bcfe, with an average lateral length of 4,335 feet.
Additional proved reserves increases include 240 Bcfe for Upper Devonian, and 103 Bcfe for the acquired Permian assets. Proved reserve decreases of 199 Bcfe were realized from the divested Nora assets; and 134 Bcfe of undeveloped reserves were removed due to the suspension of the Huron program in 2014.